CGI Inc. (NYSE:GIB – Get Rating) (TSE:GIB.A) has received an average rating of "Moderate Buy" from the thirteen ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $125.94.

GIB has been the subject of several recent research reports. TD Securities lifted their target price on shares of CGI from C$130.00 to C$135.00 in a report on Thursday, July 28th. Canaccord Genuity Group lifted their target price on shares of CGI from C$120.00 to C$125.00 in a report on Thursday, July 28th. StockNews.com downgraded shares of CGI from a "buy" rating to a "hold" rating in a research report on Tuesday, August 9th. Royal Bank of Canada raised their price target on shares of CGI from C$120.00 to C$130.00 in a research report on Thursday, July 28th. Finally, BMO Capital Markets raised their price target on shares of CGI from C$120.00 to C$125.00 in a research report on Thursday, July 28th.

Institutional Investors Weigh In On CGI

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in CGI by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 7,001,838 shares of the technology company's stock worth $558,957,000 after purchasing an additional 137,002 shares during the period. Mackenzie Financial Corp grew its position in shares of CGI by 21.0% during the 1st quarter. Mackenzie Financial Corp now owns 5,196,311 shares of the technology company's stock valued at $414,597,000 after acquiring an additional 900,529 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of CGI by 3.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 4,372,086 shares of the technology company's stock valued at $348,280,000 after acquiring an additional 162,881 shares during the period. Fiera Capital Corp grew its position in shares of CGI by 9.5% during the 2nd quarter. Fiera Capital Corp now owns 3,638,153 shares of the technology company's stock valued at $289,815,000 after acquiring an additional 316,630 shares during the period. Finally, Bank of Montreal Can grew its position in shares of CGI by 2.8% during the 2nd quarter. Bank of Montreal Can now owns 3,155,706 shares of the technology company's stock valued at $262,221,000 after acquiring an additional 85,922 shares during the period. Institutional investors own 48.92% of the company's stock.

CGI Price Performance

About CGI

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CGI Inc, together with its subsidiaries, provides information technology (IT) and business process services in Canada; Western, Southern, Central, and Eastern Europe; Australia; Scandinavia; Finland, Poland, and Baltics; the United States; the United Kingdom; and the Asia Pacific. Its services include the management of IT and business outsourcing, systems integration and consulting, and software solutions selling activities.

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